Pier 1 Q1 sales up, raises earnings forecast

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Fort Worth, Texas -- Pier 1 Imports said Thursday its same-store sales rose 10.2% in the first quarter, helped by better traffic, more purchases being made and a higher average receipt. The retailer also gave a first-quarter earnings forecast above Wall Street's expectations.

Total revenue for the period ended May 28 climbed 10% to $335 million from $306 million.